Postmedia and Torstar barter dozens of tiny newspapers, many to be close down
Postmedia and Torstar have substituted some-more than 40 internal village newspapers with any other, and many are unfailing to be close down.
The media companies announced in a press recover Monday morning that Postmedia would get two dozen village newspapers and two free commuter dailies from Torstar, and during a same time give 17 newspapers — 15 village papers and dual big-city giveaway commuter dailies — to Torstar.
No money altered hands during a deal, as a papers “have approximately identical satisfactory values,” Postmedia said, though a predestine of roughly all papers is a same — they’re unfailing to be sealed possibly immediately or soon.
Postmedia took over:
- Belleville News.
- Brant News.
- Central Hastings News.
- Exeter Times-Advocate.
- The Exeter Weekender.
- Frontenac Gazette.
- Kanata Kourier-Standard.
- Kingston Heritage.
- Meaford Express.
- Nepean/Barrhaven News.
- Norfolk News.
- Orleans News.
- Ottawa East News.
- Ottawa South News.
- Ottawa West News.
- Our London.
- Quinte West News.
- St. Lawrence News.
- St. Marys Journal-Argus.
- The St. Marys Weekender.
- St. Thomas/Elgin Weekly News.
- Stittsville News.
In addition, Postmedia will acquire a giveaway commuter newspapers, Metro Ottawa and Metro Winnipeg. Postmedia already owns other newspapers in both of those cities, and skeleton to close down Metro in any of them.
The usually papers in a understanding that Postmedia plans to keep using are the Exeter Times-Advocate and a Exeter Weekender. In total, a closures of all a others will outcome in a detriment of approximately 244 jobs.
“The stability costs of producing dozens of tiny village newspapers in these regions in a face of significantly disappearing promotion revenues means that many of these operations no longer have viable business models,” Postmedia chair Paul Godfrey said.
For their part, Torstar got these newspapers:
- Barrie Examiner.
- Bradford Times.
- Collingwood Enterprise Bulletin.
- Fort Erie Times.
- Innisfil Examiner.
- Inport News (Port Colborne).
- Niagara Advance.
- Niagara Falls Review.
- Northumberland Today.
- Orillia Packet and Times.
- Pelham News.
- Peterborough Examiner.
- St. Catharines Standard.
- Thorold Niagara News.
- Welland Tribune.
- Stratford City Gazette.
- West Carleton Review.
In further to a smaller village papers, Torstar also got two new giveaway commuter newspapers in vital cities, 24 Hours Toronto and 24 Hours Vancouver.Â
As is a box with Postmedia, many of Torstar’s new properties are to be close down, including those two.
Only 4 papers — St. Catharines Standard, Niagara Falls Review, Welland Tribune and Peterborough Examiner — will continue to operate.
The rest will all be sealed in a pierce that Torstar says it expects will formula in cost saving synergies of between $5 and $7 million. The Torstar closures, that are effective immediately, will impact 46 full-time and part-time employees.
“By appropriation publications within or adjacent to a primary areas and offered publications outward a primary areas, we will be means to put a incomparable concentration on regions where we trust we can be some-more effective in portion both business and clients,” Torstar arch executive John Boynton said.
Bob Cox, a chair of a Canadian Newspaper Association, pronounced news of a largest mass closure of newspapers ever in Canada is “a disappointment, obviously,” though combined that it hopefully adds faith to his group’s evidence that a attention is on a hill of even incomparable failures.
“I’m not in a slightest bit surprised,” he pronounced in an talk with CBC News. “We likely this would happen.”
Cox’s organisation has been lobbying a supervision to provide financial support for a industry, that has been waylaid by a large decrease in promotion revenue. Those efforts have been described as asking for a bailout, though that’s a mischaracterization, Cox says.
“We disagree for ancillary news providers, either they be digital or whatever, to assistance the industry transition,” he said.
As for a communities affected, Cox doesn’t design any new alternatives will open adult to yield news and information in a brief term.
“What happened with these newspapers is, time ran out for them,” Cox said. “This is reality. There will be reduction news in those communities.”
Article source: http://www.cbc.ca/news/business/postmedia-torstar-1.4420955?cmp=rss